- Describe an instance where a government has taken some action the result of which is influence on commerce. (Minimum 250 words with 2 apa reference)
Sample Reply 1
Commerce is mainly known as the trading and performing trafficking of the economic commodities and modes of transportation. It is defined as a situation where any kind of economic activity will cause an impact on transportation, trading, and trafficking (The Heritage Foundation, 2011). In the current days, it is observed that most of the scholar people are being investigated and it has created a new form to view the framers for the commerce power. One of the examples of a law developed by the government is the Dodd-Frank Act this is commonly known as the Dodd-Frank Wall Street Reform and Consumer Protection Act. This Act was primarily related to the financial legislation that is passed by the administration of Obama in the year 2010. The Act was created due to a major situation that has taken place and in the response to financial crisis happened in 2008. The implementation of the Act was to initially reduce the risks in the US financial system and provide the customers a strong financial protection in the history (Wilamarth, 2011). The exact situation federal banking agencies have sacrificed the customer’s financial services protection and developed some policies that would provide benefits to companies like non-banking mortgage lenders, larger banks. This was the key reason due to which Dodd-Frank Act was created. The Act also comprises of some regulation derivatives like credit default swaps that have been blamed for the financial crisis. The Act has been passed by the democratic party and this was handled by congress and the white house parties. The Dodd-Frank Act will primarily influence the commerce in a positive way by maintaining protection to consumer’s financial data as well as representing the ability to change the United States market.
The Heritage Foundation. (2011). Commerce, Commerce, Everywhere: The Uses and Abuses of the Commerce Clause. Washington : The Heritage Foundation.
Wilamarth, A. E. (2011). The Financial Services Industry’s Misguided Quest to Undermine the Consumer Financial Protection Bureau.Review of Banking and Financial Law, pp 881-956.
Sample Reply 2
The impact of government policy changes in business and industry here will increase the competition between the business and industry. It has more demand for customers, it will rapidly change the government environment, and has the necessity of change. It needs for developing the human resource, market-oriented business, and it has the loss of budget support to the public sector. There is a relationship between the government and business organizations the government which was influenced by the government are it has the laws and regulations in company law and partnership law (AlGhamdi, 2012).
The government agencies have the regulator body it has the central bank and has the trade policy. The business influence in the government by giving personal conducts and lobbying, it has the formal trade unions, has some political action committees, and the investment was in large. For plan the government blog there will be five actions those are the first one is an active collaboration, the second one is mutual satisfaction, the third one is open communication, the fourth one is an effective liaison, and the final fifth one is long term perspective. And here it has customer relationships in the influence of commerce in government actions (HUI, 2014).
It has personal assistance, self-service, automated service, communications, and has a co-relation between the users. In business support service there are some actions and themes those are the themes are it has information management, market research, technology transfer, awareness generators, information companies, and customer education. In actions, it has a chamber of commerce, local government, and embassies. It has some keywords those are trust, contract, trademark, revenue, subsidies, tax incentives, and more are there. For shutdown the governments there are some services and agencies, the government service has inter revenue service, and the agencies have the department of commerce (Zhu, 2010).
AlGhamdi, R., Nguyen, J., Nguyen, A., & Drew, S. (2012). Factors influencing e-commerce adoption by retailers in Saudi Arabia.
HUI, E. S. I., & CHAN, C. K. C. (2014). The politics of labour legislation in southern China: How foreign chambers of commerce and government.
Zhu, L., & Thatcher, S. (2010). National information ecology: A new institutional economics perspective on global e-commerce adoption.